First $50 million from '121212' concert going to Sandy relief

The first $50 million generated from "121212: The Concert For Sandy… (John Minchillo / Associated…)

The clearinghouse for the money raised from last week’s "121212: The Concert for Sandy Relief" concert and telethon has announced it is ready to distribute the first $50 million to various organizations aiding victims of the superstorm that devastated large sections of New York, New Jersey and Connecticut in late October.

"The money raised to date is going right to hundreds of organizations in the tri-state area serving those who need it most,” David Saltzman, executive director of Robin Hood Foundation, said in a statement issued Wednesday. “Robin Hood has already begun granting the funds for Sandy relief. We are continuing to raise funds through various ongoing sales opportunities and donations and we urge people to continue to contribute.”

Money has been raised through sales of tickets to the concert featuring the Rolling Stones, Bruce Springsteen & the E Street Band, Paul McCartney, Kanye West, Alicia Keys, Bon Jovi, Billy Joel and other pop heavyweights, as well as from sponsorships, telephone and Web donations and merchandise.

More funds have been raised from online auctions of memorabilia and download sales of the concert’s music on iTunes, DVD and CD sales. The "121212" album reached No. 1 on iTunes as a pre-order from those among the potential global audience of 2 billion people who reportedly had access to the event through television, radio, satellite, Internet streaming and other outlets. Money continues to be raised through the event's official website, www.121212concert.org.

“Every single penny from ticket purchases and donations will go to organizations serving the victims of Hurricane Sandy,” the statement said. “The Robin Hood Relief Fund provides money, material and know-how to local organizations that are serving families and individuals in the regions hardest hit by the storm.”

A total figure for the amount of money generated by "121212" to date has not been made public. Event producers, in the statement released Wednesday, called the show “the largest concert event to ever hit the stage at Madison Square Garden,” adding that “We are forever grateful to the unlimited generosity that was shown to the people of the tri-state area from around the world.

“Through the collective efforts of the participating artists, celebrities, corporate partners and sponsors, we will be able to make a meaningful difference for so many of our neighbors who were affected across the tri-state area,” the statement continued. “We thank everyone who made the event a resounding success."